City law firms considering corporate-style models amid capital crunch Law Artificial intelligence investment may force top City firms to abandon the traditional limited liability partnership (LLP) mindset and behave like capital‑hungry corporates, a top legal finance firm has predicted. Speaking to City AM, Burford Capital’s chief operating officer, Travis Lenkner, and vice president, Patrick Savage, said City law firms that would never traditionally sell a controlling [...]
Layoffs and an executive exit: What’s going on at London’s first listed law firm? Markets Gateley, the City’s first listed law firm, is set to lose its chief executive and axe dozens of jobs as it grapples with a swelling cost base and fears of a slowdown in client spending. The group, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM), informed shareholders on Tuesday that chief [...]
Magic circle Freshfields ousts equity partners amid US push Legal Senior staff are bracing for a shake-up at magic circle law firm Freshfields, as partners have been forced out to boost growth and fund its US expansion. The City-based firm has ousted several equity partners in recent weeks across several European offices, including London, according to the Financial Times, as it focuses on growth. Speaking [...]
Hogan Lovells Cadwalader looks to tap transatlantic dealmaking boom following merger July 13, 2026 Global law firm Hogan Lovells Cadwalader is looking to grab more of the private capital market from rivals and tap into a boom in transatlantic dealmaking following the City firm’s merger with the oldest legal practice on Wall Street. UK managing partner Penny Angell told City AM the merger creates “a stronger bench” for the combined companies [...]
Battersea Power Station misreporting claims scrutinised by accounting watchdog July 10, 2026 The City’s accounting watchdog is scrutinising claims of financial misreporting at Battersea Power Station after the former chief executive alleged he was dismissed from his role for blowing the whistle on inflated property valuations, City AM understands. The Financial Reporting Council (FRC) is reportedly looking at claims made by the former boss of the iconic [...]
Exclusive: PwC set to cut audit jobs amid market slowdown July 9, 2026 PwC is set to slash its headcount in its UK audit division, the latest in a series of redundancies at Big Four accountancy giants. City AM understands that those affected are senior associates and managers in the audit practice. It is understood this is due to low staff attrition in the firm’s audit practice, a [...]
Exclusive: Big Four giant KPMG to cut more jobs July 9, 2026 Big Four giant KPMG is set to lay off around 10 per cent of staff in its UK group corporate services division, City AM understands. The division, which includes HR, corporate affairs, marketing, tech, and procurement, is understood to be cutting around 200 people. A KPMG UK spokesperson told City AM: “As we continue to [...]
PwC sign sponsorship deal with major cricket team July 8, 2026 PwC have entered into a partnership with a major cricket club as the professional services firm expands further into sport. The US branch of the Big Four organisation will become the sleeve partner of Major League Cricket team the Texas Super Kings. PwC’s Rob Baldwin described the deal as an alignment with their “commitment to [...]
BTG Consulting cites poaching from ‘major competitors’ for boosted revenues July 7, 2026 London-listed professional services giant BTG Consulting’s revenue has spiked by 10 per cent for the financial year, partly driven by a push to poach senior talent from top competitors in the City. The consulting firm, previously known as Begbies Traynor before undergoing an official rebrand in February this year, said its revenue for the financial [...]
British consultants face slowdown as corporate spending slumps July 7, 2026 The British consulting industry is set to grow by a single digit this year as the sector faces a slowdown in spending from corporate clients. According to research from the Management Consultancies Association (MCA), the primary representative body for management consulting firms in the UK, the UK consulting sector’s predicted growth for 2026 stands at [...]